ARTICLE | Finance
Hengrui metabolic programs spun out into start-up with $400M
Bain, RTW, Atlas and Lyra back freshly created company with implied $570M valuation
May 17, 2024 5:49 PM UTC
A four-investor syndicate is supplying $400 million to create a start-up that holds most global rights to a portfolio of diabetes and obesity medicines from China-based Hengrui, launching with a valuation of about $570 million.
Bain Capital Life Sciences, RTW Investments, Atlas Venture and Lyra Capital have invested in Hercules CM Newco Inc., according to a regulatory disclosure from Jiangsu Hengrui Pharmaceuticals Co. Ltd. (Shanghai:600276)...